ajtj99's Market Pulse

[Not_Bill_Oneil]

From the IMF and IMFC...

and their Plan of Action as agreed by the G-7. Their Plan of Action states that they will take decisive action to support systemically important financial institutions and prevent their failure.

That's their words, not mine.

It's like a game plan that says the game plan is to do whatever is necessary to win the game and not lose.

That's hardly a game plan and the IMFC Action Plan is not what I would call an action plan.

I doubt that they are going to be proactive by taking decisive behind-the-scenes actions - they don't have any. More likely the markets are going to go where they need to go, with or without interventions, and later dictate some of their actions along the way.

At first glance, their approach sounds a lot like the U.S. approach so far, they plan to react at the last minute as needed.

Here's the link, see item 2. http://www.imf.org/external/np/sec/pr/2008/pr08240.htm

Chairman Boutros-Ghali and other members speeches didn't offer any more detail nor did they offer anything when asked questions about specific concrete actions.

Good luck.

Postscript: the next regular meeting of the IMFC will be 4/25/09. No need to meet in two weeks, or perhaps plan a special meeting in a month during this crisis, but, next spring, over six months from now.